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Comprehensive risk assessment of construction project based on grey system theory

  • Yao Zhong*
  • , Hong Li
  • *Corresponding author for this work
  • Beihang University

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

According to the actual situation of construction project, this paper analysed the comprehensive risk management of a highway construction project in Huanghua city using methods combining quantitative analysis and qualitative analysis. To assess the risk with rare and irregular information, this paper adopted grey system theory. This case proved that grey system theory for project risk management could identify project risk indicators effectively, analyse correlation between all risk indicator levels, predict the development and changes of risk indicators correctly and assess project risk comprehensively. The methodology appeared in this paper provides an effective way for enterprises to optimise their risk management.

Original languageEnglish
Title of host publicationProceedings of the 9th International Symposium on Linear Drives for Industry Applications, LDIA 2013
PublisherSpringer Verlag
Pages353-362
Number of pages10
EditionVOL. 3
ISBN (Print)9783642406324
DOIs
StatePublished - 2014
Event9th International Symposium on Linear Drives for Industry Applications, LDIA 2013 - Hangzhou, China
Duration: 7 Jul 201310 Jul 2013

Publication series

NameLecture Notes in Electrical Engineering
NumberVOL. 3
Volume272 LNEE
ISSN (Print)1876-1100
ISSN (Electronic)1876-1119

Conference

Conference9th International Symposium on Linear Drives for Industry Applications, LDIA 2013
Country/TerritoryChina
CityHangzhou
Period7/07/1310/07/13

Keywords

  • Comprehensive risk assessment
  • Construction project
  • Grey system theory

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